Renting out a room to a stranger

I rent a room from a friend but previously I used to rent on the open market.

Get a deposit. A months's rent is standard here. Also get a contract. You can download sample ones off the internet but if you've got a spare $100 or so, get a lawyer to do you a proper one. These things are both essential.

In my experience, both while at uni and since, it's far simpler to include all bills in the rent. That way you don't argue over them and you're not relying on someone else to pay them so you won't ever get cut off. You should obviously charge a higher rate to include the bills.

You need to interview any potential room mates. Sharing a house can be quite stressfull if you're with the wrong person although it's awesome with the right person so have a decent chat with them and don't choose the first person who applies. Make it clear that it's your house and they'll abide by the rules so won't be bringing back half the football team every night. In your situation, you might be better off advertising at work rather than college. Young professionals make for far more pleasant housemates and you know they have a steady income.

The easiest thing to do by far is to contact a letting agency and get them to find you a housemate. They'll take care of deposits and contracts, generally have a good references system in place and will collect the rent for you. Downside is of course that they'll take at least 10% in commission but that's what you pay for reduced hassle and piece of mind.

Jam it back in, in the dark.

Originally Posted by Zephyrin

Trying to move out of grammies house is proving tougher than I thought, given that most rental prices haven't dropped much, despite the crashing market.

Never heard of a letting agency though. I'll have to check that out. What would it be under in the yellow pages?

Generally they'd be under Letting Agents although there might be a different term for them in the US. Try looking under Estate Agents (Do you call them Realtors or something?) or best yet, check out the property section in your local paper, I'd be amazed if there isn't a local letting agent listed in there. Unless of course it's an entirely British concept but that would surprise me rather.

There's nowhere I can't reach.

Originally Posted by mortis

Lock-Out and Leave time - What time will you lock the door (if that is an issue)? What time do people need to leave? Are there special circumstances (fiancee, etc).

I'd be inclined to let them have their own door key. You're going to be their landlord, not their mother.

Seriously, what the fuck?

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